Persons Subject to Anti-Money Laundering and Counter-Terrorist Financing Obligations in Cameroon
The provisions of the regulation apply to any natural or legal person who, in the course of their profession, carries out, controls, or advises on transactions involving deposits, exchanges, investments, conversions, or any other capital movements, including:
1) The administrations of the Financial Authorities (Customs, Taxes, Treasury) and those responsible for the Regulation, Supervision, and Control of financial institutions in the Member States;
2) The BEAC (Bank of Central African States);
3) Financial institutions;
4) Service providers, companies, and trusts;
5) Currency exchange offices;
6) Insurance companies;
7) Real estate agents, including rental agents;
8) Other natural or legal persons trading in goods, only to the extent that payments are made or received in cash for an amount of at least five million (5,000,000) CFA francs, whether the transaction is executed in a single payment or in the form of apparently related fractional transactions;
9) Operators of voluntary sales of movable property at public auctions;
10) Sports agents;
11) Providers of gambling and games of chance;
12) Business introducers to financial institutions;
13) Persons habitually engaged in the trade or organization of the sale of precious stones, precious metals, antiques, and works of art;
14) Companies involved in the transport and transfer of funds and valuables;
15) Security companies;
16) Owners, directors, and managers of casinos and gaming establishments, including national lotteries;
17) Travel agencies;
18) Car dealerships;
19) Non-profit organizations;
20) Hardware stores;
21) Building material suppliers;
22) Licensed customs brokers, ship agents, stevedoring companies, and all service providers involved in the import-export chain;
Other obligated persons
The following are also subject to anti-money laundering and counter-terrorist and proliferation financing obligations:
1) External auditors, chartered accountants, and tax advisors;
2) Lawyers, notaries, bailiffs, and other members of independent legal professions, including court-appointed administrators, receivers, and auctioneers;
The persons referred to in point 2 above are subject to the provisions of Titles II and III of the regulation when, in the course of their professional activity:
(a) They participate, on behalf of or for the account of their client, in any financial or real estate transaction or act on behalf of a trust or similar structure;
(b) They assist their client in the preparation or execution of transactions relating to:
- The purchase and sale of real estate or commercial enterprises;
- The management of funds, securities, or other assets belonging to the client;
- The opening or management of bank, savings, or portfolio accounts;
- The organization of contributions necessary for the formation, management, or direction of companies;
- The formation, management, or direction of companies, trusts, or similar legal structures;
- The formation or management of endowment funds.
Lawyers, in the course of carrying out activities related to the transactions referred to in point (b) above, are not subject to the provisions of Titles I and II of the regulation when the activity relates to legal proceedings, regardless of whether the information they possess is received or obtained before, during, or after those proceedings, including in the context of advice on how to initiate or avoid such proceedings.
Lawyers and other members of the independent legal professions (notaries, bailiffs, court-appointed administrators, and judicial auctioneers), in the course of carrying out activities related to the transactions referred to in point (b) above, are not subject to the provisions of Chapter III of Title II of the regulation when they provide legal advice, unless such advice has been provided for the purposes of money laundering or terrorist financing, or with the knowledge that the client is requesting it for the purposes of money laundering, terrorist financing, or proliferation.
Chartered accountants and employees authorized to practice as chartered accountants under the law are not subject to the provisions of Chapter III of Title II of the regulation when providing legal and tax advice, unless such advice is provided for the purposes of money laundering or the financing of terrorism or proliferation, or with the knowledge that the client is requesting it for such purposes.
A Member State may, depending on the risks presented by a profession, include that profession on the list of professions subject to the regulations listed above.